BAC
Bank of America Corporation
BAC has lower modeled downside risk, despite its lower overall score.
ZION
Zions Bancorporation, National Association
ZION has the edge over BAC overall, supported by stronger valuation and stronger fundamentals.
BAC Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
BAC's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like BAC.
ZION Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
ZION's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like ZION.
BAC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 9.4x | $39.50 | -22% |
| Forward | 10x | $50.51 | — |
| Current | 12x | $50.51 | — |
| Fair | 13x | $53.81 | +6.5% |
| Expensive | 15x | $62.23 | +23% |
Historical ranges are pointers, not guarantees.
BAC has the edge over ZION in the historical PE scenario, which offers more potential upside but is not a forecast.
ZION PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8.1x | $66.14 | +0.3% |
| Current | 8.1x | $65.95 | — |
| Forward | 9.7x | $65.95 | — |
| Fair | 9.8x | $79.72 | +21% |
| Expensive | 12x | $98.31 | +49% |
Historical ranges are pointers, not guarantees.
ZION's PE is in its cheap range at 8.1x. On analysts' estimates for next year's earnings, today's price would be 9.7x, in its fair range.
BAC Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
BAC has the edge over ZION on the outlook, with more favorable valuation expectations.
ZION Forward outlook
| Metric | Outlook |
|---|---|
| Deteriorating | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for ZION, with profitability improving.
BAC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.92 | +17% |
| Q3 2026 | $4.19 | +14% |
| Q2 2026 | $4.34 | +27% |
| Q1 2026 | $4.02 | +20% |
| Q4 2025 | $3.81 | +19% |
| Q3 2025 | $3.66 | +33% |
| Q2 2025 | $3.41 | +20% |
| Q1 2025 | $3.35 | +16% |
| Q4 2024 | $3.21 | +4.2% |
BAC's earnings per share have climbed steadily: $4.19 over the past year, up 14% from the year before, and higher year over year for eight quarters in a row.
ZION Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.81 | -16% |
| Q3 2026 | $8.15 | +46% |
| Q2 2026 | $7.85 | +44% |
| Q1 2026 | $6.43 | +26% |
| Q4 2025 | $6.00 | +21% |
| Q3 2025 | $5.58 | +27% |
| Q2 2025 | $5.47 | +32% |
| Q1 2025 | $5.12 | +29% |
| Q4 2024 | $4.95 | +14% |
ZION has the edge over BAC on earnings, with stronger typical year-over-year growth.
BAC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $30B | +6.7% |
| Q2 2026 | $31.6B | +19% |
| Q1 2026 | $30.3B | +11% |
| Q4 2025 | $31.2B | +23% |
| Q3 2025 | $28.1B | +11% |
| Q2 2025 | $26.5B | +4.3% |
| Q1 2025 | $27.4B | +6% |
| Q4 2024 | $25.3B | +15% |
BAC has the edge over ZION on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 30% | -3.7 points |
| Q2 2026 | 37% | +7.6 points |
| Q1 2026 | 34% | +4.7 points |
| Q4 2025 | 40% | +12 points |
| Q3 2025 | 34% | +4.8 points |
| Q2 2025 | 29% | -0.7 points |
| Q1 2025 | 30% | +1.5 points |
| Q4 2024 | 28% | +14 points |
BAC's operating margin was 30% last quarter, down 3.7 points from the same quarter a year ago.
ZION Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $881M | +2.3% |
| Q2 2026 | $1.1B | +36% |
| Q1 2026 | $849M | +6.8% |
| Q4 2025 | $891M | +8.7% |
| Q3 2025 | $861M | +8.7% |
| Q2 2025 | $838M | +7.9% |
| Q1 2025 | $795M | +7.1% |
| Q4 2024 | $820M | +12% |
ZION's revenue has grown year over year for nine quarters in a row: $881M last quarter, up 2.3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 38% | +5 points |
| Q2 2026 | 51% | +14 points |
| Q1 2026 | 35% | +4.6 points |
| Q4 2025 | 38% | +5.1 points |
| Q3 2025 | 33% | -1.9 points |
| Q2 2025 | 37% | +3.5 points |
| Q1 2025 | 30% | +2.7 points |
| Q4 2024 | 33% | +12 points |
ZION has the edge over BAC on profitability, with a higher operating margin.
BAC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$6.5B | -114% |
| Q2 2026 | $29B | +$38.2B |
| Q1 2026 | $41.8B | +$44B |
| Q4 2025 | -$22.9B | -189% |
| Q3 2025 | $46.9B | +$84.2B |
| Q2 2025 | -$9.1B | -150% |
| Q1 2025 | -$2.2B | +$13.4B |
| Q4 2024 | $25.9B | -21% |
BAC's free cash flow was $41.4B over the past year, down 33% from the year before. Free cash flow isn't a meaningful measure for financial services companies like BAC.
ZION Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $860M | +108% |
| Q2 2026 | $389M | +$482M |
| Q1 2026 | $398M | +162% |
| Q4 2025 | $480M | -1.8% |
| Q3 2025 | $413M | +326% |
| Q2 2025 | -$93M | -140% |
| Q1 2025 | $152M | -34% |
| Q4 2024 | $489M | +$763M |
ZION has the edge over BAC on cash flow, with more consistent year-over-year improvement.
BAC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1% | -72M shares |
| 1 year | -5.3% | -405M shares |
| 3 years | -11% | -854M shares |
| 5 years | -15% | -1.3B shares |
| Available history | -24% | -2.2B shares |
BAC has the edge over ZION on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $6B |
| Q2 2026 | $6B |
| Q1 2026 | $7.2B |
| Q4 2025 | $6.3B |
| Q3 2025 | $5.3B |
| Q2 2025 | $5.3B |
| Q1 2025 | $4.5B |
| Q4 2024 | $3.5B |
BAC spent $25.6B buying back its own shares over the past year, up 37% from the year before.
ZION Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.8% | -1.1M shares |
| 1 year | -1.4% | -2M shares |
| 3 years | -1.7% | -2.6M shares |
| 5 years | -9.6% | -15.4M shares |
| Available history | -22% | -41.4M shares |
ZION has 145M diluted shares, down 1.4% from a year ago, with $227M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $75M |
| Q2 2026 | $75M |
| Q1 2026 | $77M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | $41M |
| Q4 2024 | $1M |
ZION spent $227M buying back its own shares over the past year, about five times what it spent the year before.
BAC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 6.4x | High |
| Q2 2026 | 6.7x | High |
| Q1 2026 | 7.1x | High |
| Q4 2025 | 7.7x | High |
| Q3 2025 | 8.3x | High |
| Q2 2025 | 8.8x | High |
| Q1 2025 | 8.6x | High |
| Q4 2024 | 9.0x | High |
BAC's net debt is about 6.4 years of its operating earnings (EBITDA), down from 8.3 years a year ago. Net leverage isn't a meaningful measure for financial services companies like BAC.
ZION Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.0x | Healthy |
| Q2 2026 | 0.7x | Very low |
| Q1 2026 | 1.0x | Very low |
| Q4 2025 | 3.0x | Elevated |
| Q3 2025 | 0.6x | Very low |
| Q2 2025 | 0.2x | Very low |
| Q1 2025 | 0.1x | Very low |
| Q4 2024 | 3.6x | Elevated |
ZION has the edge over BAC on leverage, with a lower net debt burden relative to earnings.
BAC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 37.1 | Neutral |
| Stochastic | 4.9 | Oversold |
BAC's weekly RSI is 37 (neutral) and its Stochastic is 5 (oversold).
ZION Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 51.8 | Neutral |
| Stochastic | 38.7 | Neutral |
ZION's weekly RSI is 52 (neutral) and its Stochastic is 39 (neutral).
BAC PE vs Financial Services Sector
| Metric | BAC | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 13x | 7.5% below |
| PE % | 40 | 63 | 23 pts below |
BAC is trading at 12x earnings, in line with the Financial Services sector's median of 13x.
ZION PE vs Financial Services Sector
| Metric | ZION | Sector median | Relative |
|---|---|---|---|
| PE | 8.1x | 13x | 38% below |
| PE % | 16 | 63 | 47 pts below |
ZION has the edge over BAC on valuation relative to its sector.
BAC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $52.1 | 3% below |
| 20 week MA | $57.8 | 13% below |
| 50 week MA | $54.7 | 7.7% below |
| 100 week MA | $50.5 | 0% below |
| 200 week MA | $42.5 | 19% above |
BAC has fallen below most of its moving averages, though it's still 19% above its 200-week average.
ZION Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $64.4 | 2.4% above |
| 20 week MA | $67.4 | 2.2% below |
| 50 week MA | $63.3 | 4.2% above |
| 100 week MA | $57.8 | 14% above |
| 200 week MA | $49.4 | 34% above |
ZION has the edge over BAC on trend strength, trading above more of its moving averages.
BAC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $35.4 | $30.0 | -15% |
| 2021 | $30.0 | $44.4 | +48% |
| 2022 | $44.4 | $32.5 | -27% |
| 2023 | $32.5 | $33.7 | +3.7% |
| 2024 | $33.7 | $44.3 | +32% |
| 2025 | $44.3 | $56.2 | +27% |
| 2026 YTD | $56.2 | $50.5 | -10% |
BAC has finished higher in four of the last six years. It's down 10% so far in 2026.
ZION Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $51.5 | $43.3 | -16% |
| 2021 | $43.3 | $62.4 | +44% |
| 2022 | $62.4 | $48.5 | -22% |
| 2023 | $48.5 | $43.9 | -9.5% |
| 2024 | $43.9 | $54.7 | +25% |
| 2025 | $54.7 | $59.5 | +8.8% |
| 2026 YTD | $59.5 | $66.0 | +11% |
ZION has the edge over BAC on returns for 2026, with the stronger performance.